The EPS beat is modest and the revenue decline from Colstrip exit is structural, not operational. With guidance unchanged and a dilutive equity issuance planned, the stock is unlikely to see sustained upside. Watch for rate case outcomes and ERM impacts in upcoming quarters.
Price Chart
Executive Summary
Avista reported Q1 2026 GAAP EPS of $1.11, beating the $1.03 consensus by +7.8%, and confirmed its 2026 non-GAAP utility earnings guidance of $2.52-$2.72 per share. Revenue was not explicitly stated in the filing, but total utility operating revenues were $555M, down from $603M in Q1 2025, driven by lower electric revenues due to Colstrip exit. The EPS beat is positive, but the revenue decline and unchanged guidance cap the upside.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $1.11 vs consensus $1.03 (beat by +7.8%)
- Non-GAAP utility EPS of $1.10 vs $1.01 in Q1 2025
- Confirmed 2026 non-GAAP utility EPS guidance of $2.52-$2.72
- Total utility operating revenues $555M, down from $603M YoY (-8.0%)
- Electric utility margin decreased due to Colstrip cost recovery removal
- Natural gas utility margin increased on general rate case effects
- Capital expenditures of $147M in Q1; $615M expected for full year 2026
- Expects to issue up to $90M of common stock and $230M of long-term debt in 2026
Financial Impact
EPS beat of $0.08 vs consensus, but revenue decline of ~$48M YoY
Risk Factors
- Revenue decline from Colstrip exit may pressure future earnings if not fully offset by rate cases
- Planned $90M equity issuance could dilute EPS by ~3-4%
- Wildfire liability and regulatory disallowance risks in Washington/Oregon
- Interest expense increases and rising capital expenditure requirements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3287520 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | Press Release | $38.43 $37.40 | ▼ −2.68% | ▼ −1.62% | $37.23 (−3.12%) |
Aug 3, 2026 12w ago | Press Release | $39.55 $37.16 | ▼ −6.04% | ▼ −7.28% | $37.23 (−5.87%) |
Jul 31, 2026 12w ago | Press Release | $39.55 $37.16 | ▼ −6.04% | ▼ −7.28% | $37.23 (−5.87%) |
Jun 2, 2026 20w ago | 8-K | $41.08 $41.40 | ▲ +0.78% | ▲ +1.78% | $37.23 (−9.37%) |
May 6, 2026 24w ago | Press Release | $40.98 $41.08 | ▲ +0.24% | ▼ −2.89% | $37.23 (−9.15%) |
May 5, 2026 24w ago | Press Release | $40.93 $41.85 | ▲ +2.25% | ▼ −2.71% | $37.23 (−9.04%) |
Apr 8, 2026 28w ago | Press Release | $42.09 | awaiting T+20 | — | $37.23 (−11.55%) |
Apr 1, 2026 29w ago | DEFA14A | $41.34 $41.10 | ▼ −0.58% | ▼ −10.46% | $37.23 (−9.94%) |
Feb 24, 2026 34w ago | 8-K | $40.61 $39.36 | ▼ −3.08% | ▲ +2.16% | $37.23 (−8.32%) |
US Market Status
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